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| EXPORTS, IMPORTS, and TRADE BALANCE |
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| KEY TRENDS |
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- For the first time in several decades, the U.S. merchandise trade deficit with Canada remained largely unchanged from 2005 to 2006 (rising by less than 1 percent) as the $15 billion increase in U.S. exports nearly matched that of U.S. imports from Canada.
- U.S. merchandise exports to Canada benefitted from a strong Canadian economy and buoyant consumer purchases in 2006 (with 3 percent GDP growth and a 6 percent rise in Canadian consumer sales), magnified by a slightly stronger Canadian dollar. U.S. exports to Canada rose by $15.0 billion (8 percent) to $198.2 billion in 2006 with noteworthy increases in U.S. exports of transportation equipment, minerals and metals.
- About half of the $15.5 billion increase in U.S. merchandise imports in 2006 from Canada resulted from higher energy product imports, and the other half from higher imports of mineral and metal products. U.S. imports of energy products from Canada increased by 12 percent to $73.7 billion in 2006, propelled by higher energy prices across the board. The average price of imported crude petroleum rose by 20 percent to $60 per barrel in 2006.
- U.S. imports of minerals and metals products from Canada rose by 26 percent to $32 billion in 2006. Higher prices of iron, aluminum, steel, copper and other metals substantially increased the unit values of these imports.
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| TRADE SHIFTS in 2006 from 2005 |
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- U.S. trade deficit:Increased by $509 million (1 percent) to $104.8 billion
- U.S. exports:Increased by $15.0 billion (8 percent) to $198.2 billion
- U.S. imports:Increased by $15.5 billion (5 percent) to $303.0 billion
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| LINKS |
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USITC PUBLICATIONS
- Brass Sheet and Strip from Brazil, Canada, France, Germany, Italy and Japan, USITC publication 3842, March 2006
- Magnesium from Canada, USITC pub 3882, April 2006
- Pure and Alloy Magnesium from Canada, Pub 3859, July 2006
- Carbon Steel Products from Australia, Belgium, Brazil, Canada, Finland, France, Germany, Japan, Korea, Mexico, the Netherlands, Poland, Romania, Spain, Sweden, Taiwan, and the U.K. Pub. 3899, January 2007. Vol 1 Vol 2
GOVERNMENT RESOURCES
Canadian Department of Foreign Affairs and International Trade
U.S. Central Intelligence Agency
U.S. Department of Commerce, International Trade Administration
U.S. Department of Energy, Energy Information Administration
U.S. Department of State
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| SECTOR
SHIFTS |
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| Agricultural Products
| Forest Products |
Chemicals and Related Products |
| Energy and Related Products | Textiles, Apparel, and Footwear |
| Minerals and Metals | Machinery | Transportation Equipment |
| Electronic Products | Miscellaneous Manufactures |
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| COUNTRY SHIFTS |
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